Newmark Group (NASDAQ:NMRK) Upgraded at Wolfe Research

Newmark Group (NASDAQ:NMRK - Get Free Report) was upgraded by equities research analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a research note issued on Friday, Marketbeat Ratings reports. The firm presently has a $14.00 target price on the stock. Wolfe Research's target price points to a potential upside of 27.16% from the stock's previous close.

Several other equities analysts also recently weighed in on NMRK. Piper Sandler reduced their price target on Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Keefe, Bruyette & Woods cut their price target on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 19th.

Newmark Group Stock Down 0.1%

Shares of NASDAQ:NMRK traded down $0.01 during midday trading on Friday, reaching $11.01. The company's stock had a trading volume of 304,299 shares, compared to its average volume of 1,137,292. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $11.18 and a 200-day moving average of $12.96. The firm has a market capitalization of $2.03 billion, a P/E ratio of 31.43 and a beta of 1.99. Newmark Group has a 12-month low of $9.64 and a 12-month high of $16.10.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The business had revenue of $665.49 million for the quarter, compared to analyst estimates of $609.28 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Newmark Group's quarterly revenue was up 21.8% on a year-over-year basis. On average, research analysts anticipate that Newmark Group will post 1.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Newmark Group by 352.8% in the third quarter. Barclays PLC now owns 227,099 shares of the company's stock valued at $3,526,000 after acquiring an additional 176,947 shares in the last quarter. Assetmark Inc. raised its stake in Newmark Group by 43.5% during the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company's stock valued at $110,000 after purchasing an additional 2,602 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Newmark Group by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,900 shares of the company's stock worth $959,000 after purchasing an additional 1,653 shares in the last quarter. Vanguard Group Inc. boosted its stake in Newmark Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company's stock worth $270,479,000 after purchasing an additional 83,094 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Newmark Group by 540.5% in the 4th quarter. SG Americas Securities LLC now owns 46,289 shares of the company's stock worth $593,000 after purchasing an additional 39,062 shares during the period. Institutional investors own 58.42% of the company's stock.

About Newmark Group

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.